GBPUSD Faces Downside Pressure On Price Failure

GBPUSD: With the pair continuing to hold on to its downside pressure, GBPUSD faces downside pressure on price failure though with caution. Support lies at the 1.4200 level where a break will turn attention to the 1.4150 level. Further down, support lies at the 1.4100 level. Below here will set the stage for more weakness towards the 1.4050 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Resistance stands at the 1.4300 levels with a turn above here allowing more strength to build up towards the 1.4350 level. Further out, resistance resides at the 1.4400 level followed by the 1.4450 level. On the whole, GBPUSD faces downside pressure on price failure.